With compliance deadlines fast approaching, banks and payment service providers (PSPs) must work with increased urgency to enable messaging over the ISO 20022 standard.
Digital transformation programmes are frequently driven by customer experience considerations in retail and consumer banking. This is particularly true in Latin America, where, despite the big push for digitalization, the overall penetration of banking services in LatAm remains low.
Most traditional bank cross-border payment services are based on correspondent banking, which is slow, expensive, and opaque. Fortunately there are now a number of viable options for banks to rise to the challenge.
Customer, Collaboration, and Cloud – three strategies for banks to consider to make the most of their PaaS integration.
European banks need to be ready for a new world of real-time payments -- but integrating interoperable payment systems, and innovating on top of them, is no mean feat.
While banks are under pressure to adapt and support real-time payments and other new and updated standards, there are a number of common challenges that first need to be overcome.
Virtusa's Amit Bhute sits down with Volante's Peter Larsson to discuss how ISO 20022 and real-time cross border payment capabilities are driving innovation.
Business continuity and security need to be emphasized more than ever before, which involves arming ourselves with the most advanced technology available to foster resiliency, security and adaptability, no matter the circumstance.
Financial institutions must consider modernization to the cloud to benefit from cost-reduction advantages and improve efficiency in a post-COVID world.
The pandemic has led millions of people in Latin America to use the banking system for the first time. If banks want to be the providers of choice for digital customer experiences, they must modernize their technology infrastructures, fast.
For RTP to become ubiquitous, the industry must find compelling use cases for real-time payments, particularly for corporate treasury clients. Real-time integrated payables are a good place to start.
Migration to the ISO 20022 format can allow banks to tap into the power of data analytics and unlock new opportunities to create a better banking ecosystem.
Wire payments have come a long way since they were first used in 1871 as a way for people to transfer money electronically between a handful of big cities in the United States. Now, wire services and payment services in general are going through another period of innovation and modernization.
